Get all the latest updates on Universal Credit News: Credit Dates, Eligibility, Amount, and Possible Increase. As of 2024, Universal Credit has been escalated, but some beneficiaries will receive additional amounts directly in their bank accounts by the end of June 2024.
Universal Credit News
In April 2024, benefits across the UK saw a significant inflation of 6.7%, which was aimed at helping claimants cope with the rising cost of living. The timing has caused some sort of confusion and frustration among the claimants, particularly as the Cost Of Living continues to rise. Advocacy groups and charities have expressed concern about the need for more timely and substantial support for Universal Credit Claimants.
They argue that the current system, while designed to be flexible and responsive, often leaves the most vulnerable and risky situations where they struggle to afford essential items. In response to the ongoing issue, the Joseph Rowntree Foundation, Big Issue, along with support from over 100 organizations, is advocating for guaranteed essentials to be included in Universal Credit. This guarantee ensures that the recipients can at least afford the basic necessities to live, providing a more secure and adequate level of finance.
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Universal Credit Dates 2024
Universal Credit, unlike other benefits, operates on a monthly assessment period. This means that the benefits are calculated and paid on a rolling month-to-month basis. For instance, the valuation period began on 26 March and ended on 25 April; the payment you might get on 2 May will be calculated at the previous rate as the assessment period started before the new rate was effective.
The delay in the disbursement has left many recipients wondering why the rise took so long to take place. The changes were implemented promptly for many, while some might begin to see the problem in their bank accounts in June. Scroll down to know the Universal Credit Eligibility.
Universal Credit Eligibility
To receive the new rates of Universal Credit, you must meet the following criteria.
- It is mandatory that the applicant must be a UK resident.
- Individuals who struggle to meet their basic needs due to low income are entitled to Universal Credit.
- Age plays a significant role. The claimant must be at least 18 years old or below the State Pension Age, which is 66 years.
- You are eligible if you are unemployed, working, or unable to work due to severe disability or illness.
- Income and assets must be below £16,000 to qualify for the payment.
If you are unsure which benefit you might be receiving, you can use the benefits calculator tool on the Government of the UK’s official portal.
Universal Credit Amount 2024
The DWP has urged a reconsideration of the timing and administration of the payments to ensure that adjustments can be made more quickly for those in need. The claimants are expected to be funded with new rates of £470 rise in the upcoming month.
The DWP’s automatic deduction, which recipients can lose over one billion annually, further exacerbates the issue, reducing the actual amount of support received. Advocacy folk continue to push for more substantial and immediate adjustments to ensure that all recipients can adequately cover their living expenses.
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Universal Credit Possible Increase News
As claimants adjust the new rates, there is a growing call for further increases to the Universal Credit to better align with recent living costs. The 6.7 percent rise was based on the inflation rate in September. However, with ongoing economic pressure, claims believe that this inflation is insufficient.
Despite this, Universal Credit’s adjustment falls short of meeting the cost of living. According to estimates from the Joseph Rowntree Foundation, the standard allowance for individuals aged 25 and over is about £30 minimum per week or £120 less per month than what is required to cover basic expenses.
Individuals seeking additional support in June 2024 can explore several avenues, such as charitable organizations, local councils, and community groups responsible for providing supplemental aid, such as food banks and financial counseling.
All the resources shared above play a crucial role in bridging the gaps until the new benefit rates fully take effect. It is essential for the recipients to stay informed regarding their entitlements and to seek out available resources to help manage their finances during their transitional period.
